FxWirePro: NZD/USD largely rangebound, further bullishness only on break above 0.6870
NZD/USD has been trading in a narrow range after seeing rejection at 0.6874 (strong trendline resistance) on March 18th. Upside on the day seen capped by 5-DMA at 0.6776, while immediate support on the downside lies at 0…
NZD/USD has been trading in a narrow range after seeing rejection at 0.6874 (strong trendline resistance) on March 18th.
Upside on the day seen capped by 5-DMA at 0.6776, while immediate support on the downside lies at 0.6746 (Mar 21st lows).
Momentum studies are neutral, any further bullishness can be seen only on breaks above 0.6870.
Earlier today rating agency S&P affirmed New Zealand ratings, outlook remains stable, noting both monetary and fiscal flexibility.
Pair saw little impact, markets continue to digest recent action and rhetoric from Central Banks with a surprise cut from the RBNZ and surprise dovishness from last week's FOMC.
